Registered number: 07762463 Charity number: 1144915 Cyclopark (A company limited by guarantee) Trustees, report and tlnancial statements For the year ended 31 March 2025
Cyclopark (A company limited by guarante8} Content8 Page R8for8nc8 and administrativa detalls of the Charlty, it$ Trust•es and advlsers Truslees. report Independent audltors, report on the financlal statemenls Statement of flnanclal acllvltles 2-10 15 Balance shaot 16-17 Statement of cash flows 18 Notes to the financlal statements 19-34
Cyclopark (A company limit&d by guaran188} Reference and admin18tratlve details of the Charity, its Trustees and advisers For the year ended 31 March 2025 K Lloyd. Chair R Taylor A Wheelwright (resigned 22 January 2025) E Hughe8 B Sandell (resigned 22 January 2025) S Pereverzeva {resigned 25 Seplernber 2024) S Purchas A Am8y (resigned 25 Seplembar 2024) A Coups {appointed 25 September 20241 G E Wade (appointed 18 June 2025> A South (appointecl 2 July 20251 Company reglslered number 07762463 Charity registered number 1144915 Registered office Cydopark Walllng Street Gravesend Kent DA117NP Ind8P8ndont auditors Kfeston Re8V8s LLP Chartered Accountants Maritime Place Quayside Chatham Maritime Chatham Kent ME4 4QZ Page 1
Cyclopark (A company limited by guarantee) Truslees. r8port For the year ended 31 March 2025 The Trustegs pres&nt their annual report togeth6r wlth th8 audited financlal statements of the Charlty for the 1 April 2024 to 31 March 2025. The Annual report serves the purposes of both a Trustegs, report and a directors, report under company law. The Trustees confirm thal the Annual report and financial statements of the charitable company comply with the current statutory requlrements, the requirements of the charitable companys governing document and the provisions of the Statemenl of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) leffectlve 1 January 2019). Since the Charity qualifies a8 small under section 382 of the Companies Act 2006, the Strategic report requirad of m8dium and large companles under the Companies Act 2006 (Strategic Report and Directors, Report) R8gulations 2013 has been omitt6d. Objectlves and actlvltles a. Pollcles and objectlves Th& Vision for th8 Charity is to provide a community hub that drives positive chang8 in our local communlty. We want people to be able to access excellent facilities no malter their ability or background. We hope to inspire future generatlons to get moving for pleasure as well as dlscoverfng hidden talent. The Mission for the Charily is to provid@ outstanding experiencS Ihat support 811 ages and abilities to gat moving on two feet and two wheels, Why - the local context Loted in a Priority 1 area of health and socioeconomic inequalities, 42¢10 of Year 6 children are overw8ight and n8arly 1 in 3 adults are physically Inacllve. Multlple large-scale studies across the worfd show thal jusl a moderate amount of mov6m8nl- 150 minutes a week. which is 21 mlnutes a day- lowers your all-cause risk of death at a given age by approximately 30 %. Following a change in senior leadership and period of review wilh key stakehold8rs tOW8rds the end of the financial year 2023124, the original four-year strategy has been refined to focus on four key strategic goals from financial year 2024125. Those look to further align the charity with Kent County Council's Framing and Securing Kent's Future and Gravesham Borough Council's Gravesham 2040 prospectus, the summary of their corporate and local plan. The focus of these strategic goals is to build further on the Charity's charitable status and strength of offer and position the Charity and venue as a h6alth and wèllbeing hub in an area of signific8NI need. By leaning into th@ social prescribing agenda, underpinned by Its unlque cycllng-based offer, the charlty can become a recDgnlzed asset to support Public Hgalth building on its current success In cycling talent creation and 8V8nt staging. Strateg1¢ Goal 1: The Charity to be a key resource for Public Health and the Kent and Medway Int8grated Care strategy, parti¢ularfy the shared outcomes of - Giving children and young people the best stsrt in life & to Support happy and healthy living for all. Strategic Goal 2: The Charity to be the centre of cycling in Ihe region enhancing the current discovery of hiddan tal&nt and staging world-cla88 6vents with a r&new8d focus on inspiring more paople to get on a bike through the development of a more robust grassrootslparticipation offer for childr@n and adults. Th18 In turn supports our Publlc Health objective. strategic Goal 3: The Charity to Use Gycling and nor)-cycling events to inspire engagement, generate valuab19 funds and as a key driver of profile and economic impact for Kent and Gravesham. strategic Goal 4: The Charity to be commercially self-sufficient from Kent County Council central funding within five years through efficiency and 8ffecliven8ss in our offer and operations supported by Ihird parly funding into our programmes and facilities from grants and partnerships. Page 2
Cyclopark IA company limited by guarantee) Trustees. report (continued) For the year ended 31 March 2025 Obj8ctiV8s and aclivltles Icontlnued) To achieve our strategic goals, w8 have four enabling goals: Exceptlonal People Our People ara the key to the success of the Charlty. Whilst we have an excellent faclllty, it's the people who bring it to Ilfe. We seek to attracl people who can help us deliver our objactives whether thal Is working wSth our mombers on a day to day basis or helping run fantastic events. We continue to review and id8ntify the skills we ne8d now and in the future a5 Ihe Charity continues to grow and flourish. This Include @nsuring we help our staff learn and develop to build their careers and our suc¢g5S. In a time of a climate emergency, cycling and a¢tiV8 travel have critical roles to play. Our work at the where they can18arn to be Gonfident 8nd happy lo ride bikes, whether for transport, for lelsure or for sport (or a combination of all three). As a Iraffic free Spa we provide 8 safe and welcoming placg for people to enjoy riding blkes. Stakeholder Relationships Ext8nd our relationshlps wlth stskeholders to include sporl governing bodie8, local govemment, central government and health providers to support mutually b8neficial collaboration. Contlnua to host national level oycling events wilh an ambition to make Cyclopark a leadlng v8nuo for international16vel cycling events. Continue to seek out new opportunities lo work with local businesses and the communilyto deliver new events that raise awar8n@ss and bring people to th8 Venue. Charitabl8 Fundraising Identify and apply for a serias of funding opporlunities lo deliver the overall income target, These include existing charities. grant making foundations, governing bodles, local and central government. Continue our commitment to support discounted and free activities. Our team at the Charity work with partners to identify relevant charitable projacts that align with our vision and help support the needs of our local community, in fijrtherance of our own charitable activities. Hosl additional fundraising events to further support this part of ourwork. Commer¢lal Growth Idantify and approaoh a range of businesses to forge partnerships lo dellver the overall income target. These include local and national organisations who could offer Valua In Kind andlor cash input. Focus cornmercial activity in the areas of health and fitness. family activities, day visitors. events and food and drink. Continue to improve the products, services and events we offer to our community by listening to feedback. Build an ongoing focus on increasing inclusivity across all of our activities and product8 Wlth specific focus on diversity and under represented section of society (women, elhnic diversity, young people and disability)- Our values are at tha heart of ev6r5rthlng wa do. They inform the way we design and deliver our servlces and the way we work and behave. .Teamwork to work in ways whlch are open, inclusiv8, responslve and accountable to develop and maintain positive workiny relationships with customers, stsk6holders and partners to achieve excellent outcomes. .Trust to ensure all stakeholders are given open and honest information tD make declsions, to leam from our mistakes and promote conlinuous improvement and best practice. .Treating people fairly to recognise that everyone has an importsnt part lo play in achieving the mission for the Charity and to value the diverse and vibrant nature of our members and Gommunity. .Spendlng Money Wlsely to set high expectation lo achi8v8 strategic outcomes, actively seek out opportunities to improve delivery of s8rvices through partnership and Ilsten to feedback. The Directors have pald due regard to ensurg guidance has been taken in how the charily's activities are focused around public benefit and in lin8 with directives issued by the Charity Commlsslon in deciding what Page 3
Cyclopark (A company limited by guarantee) Trustees. report (continued) For the year ended 31 March 2025 Objectives and activltles (contlnuod) activities the charlty should undertake. b. Maln actlvities underiaken to further the Charlty's purposes for tha publlc bonefit Cyclopark is a unique multl-activlly venue located in 49 acres of parkland In Gravesend, Kent offering a range of actlvltles for all ages and abilities from dedicated cyclists and alhl8tes to famllles looklng for a great day out. It is owned by Kent County Council and was opened in 2012 further lo the relocation of the old A2. The Cyclopark Charity is an independent registered charity appointed on a multi-year agreement by Kenl County Council to operate the venue on its behatf. As a charity, any profit is re-invested into the park's facilities and wider charitable actlvities. Originally opened as a cycling venue, the Charity and aclivilies offered have evolved over the years through the desire to further engage with and meet the community's needs. Our facllities are open 7 days a week. on av8raga 12 hours a day, 360 days a y8ar and include.. A 2.9km closed road clrcult able to be split into multiple areas for cDns6culiv@ use or as a 2.5km loop, A 330 mgtre national standard BMX track, 6km of Mountain Bik8 trails for varying abilities, Over 200 bikes In various tleets including for Leam2Ride, BMX, Mountain Bike and schools coaching as well as publiG hire and the adaptive bike fleet for Cy¢lo4AtI, Five dedicated indoor 8xercise spaces including weights and cardio room, spln studio, studios for classes and the Garage HIIT area, A 3,000 square foot playpark with multiple children's play aclivilies, The groundbreaking Cycloland initiative wilh a mini-road network for children to understand road safety whilst learning to scoot or use a balance bike. A 1,40D square metre skatepark with a varlety of feature5 for skateboards, BMX8rs, scooters and rollarblad8rs, A Multi-use Games Ar8a. An onsite café called ParkEat. We offer a wide range cf have-a-go and taught Ride (cycling). Fitness and Play activities and events for all ages and abililies priced in a community-orienlated way focused on affordability. Where we can, we offer th&sg for free or at a significant discount for identified groups as part of our charitable activities. Ride A progressive CycloPathway delivertng a wide range of Coached sessions by the Charivs coaches starting with beginner bike handling and moving into discipline specific coached sessions across road, BMX, mountain bike and cyclo-cross to th@ high@st standard, Host to five National Goveming Body clubs based at the venue offering road, BMX, mountsin bike and cyclo<ros8 dlsclplines as wall as triathlon and disabllity cycllng, A range of coached and supported sessions for schools Includlng spgcial schools for children with learning difficuttles and social. emotional, behavioral and menlal health needs., Pupil Referral Units for permanently excluded pupils and mainstream primary and secondary schoDIs, The Cyclo4AII adaptive cycling sessions are further discounted from our already community-orientated pricing as part of our charitable activities offering opportunities for mentally and physically disabled people to engage in high quality, fun activities in partnership with Kent Community Health NHS Foundation Trust. Page 4
Cyclopark (A company Ilmlted by guarantee) Trustees, report (continued) For the year ended 31 March 2025 ObJoctlves and actlvltles (contlnuod) Fitness Not just a gym, ParkFitness provides a social and community hub for the local residents of Gravesham and th8 surrounding argas, Our focus is not just on providing a facility but on supporting all us@rs on their movement journ8y through a wid8 rang& of classes, led sessions and access to programme wrftlng wllh our Instructors, Four membership packages provide tailored offers for key audlences with th& abilily for individuals to also pay-as-you-go for individual Glasses at Communityrientated prices, Over 70 classes and led sessions a week from low Intenslly yoga and pilates to high intensity spin and our own Garage HIIT product as well es inclusive classes for target audiences including Par8nt & Baby and Chair Fit and Chat for older adults, Wider initiatives integrating with ParkRide including CycloFemme, Bmxerclse and the Black Dog Cycling Group, Charitable activities include offering discounted Menopausal Weight Training Clinics and Chair Fit & Chat classes as well 88 a fr8e self-referr81 programme throughoLFt the year and Black Dog Cycling Group. Play The Play portfolio of play pa, Cycloland, skatepark and MUGA provid8s th6 gateway to engag6 the families and younger children of Gravesham and SuOUnd1ng areas to help fonn positive habits through fun physical activity from an early age, Access is priced in a ¢ommunity-orientat8d way focused on affordability with a day pass for a f8mily of five jusl £4.50 or a m&mbership atjusl £7.50 a month, Alongside these actlvltles, the charity works Closely with ils tenanls Ihe Baby & Toddler Cloud to engage young families both through their own classas and by cross promotion of Park Fitness exercise class8S, ply park access and s8asonal ParkPlay 8V8nts. Bookings & Events Bookings and 8v8nts are an incr8dibly important platform for 8ngagem8nt providing motivation for participants, inspiration for spectators and being a valuable way to Sntroduce new people to the charity, These range from a simple two-hour room hire to host a thlrd4)arty meet]ng or activity to multi-day National Series cycling evgnts across BMX, Cyclo-cross and road disciplines wilh a whole range in betwegn linked to our Rid8, Fitness and Play portfolio. stakeholders Building and maintsining our network of stakeholders is key to on%oing operations and unlocking new opportunities. This starts with those parties directly linked to the establishment of the Cyclopark project and, as we look to our future direction, those closely aligned to our four strategic goals. These start with Kent County Council, Active Kent and Medway, Gravesham Borough Council, Dartford & Gravesham MHS Trust, British Cycling and Colyer Ferguson. Through close liaison with thesa parties, w8 ensur6 our purpos9 is aligned to tho local neod as w811 as using these nefMorks to forge new conn8clions. Page 5
Cyclopark (A Company Ilmlted by guarantee) Trustees. report {contlnued) For Ihe year ended 31 March 2025 Objectives and activities (contlnuod) Achlevements and performance . Overview Sinc@ W8 first op&n8d in 2012, the CharSty has provided an inspiring and ac$$1b1e place for people from all walks of life to ride their bik8s. From young people learning to rid@ through to Olympic gold m8dallists, our top class facllltles have provided a supportive and saf8 environment for cycling. Qver thg18sI 10 years. we have expand8d and grown our support for cyclists and introduced a broader range of activities for non cyclists. We have also hosled many events from regional cycling races through to National Series stages in BMX and Cyclocross; the highlight being hosting a stage of the 2019 Women's Tour. The CharItS scope is wide off@ring something for everyone, not Ju8t cycllng, with an av6rag8 of over 125 coached or supported sessions each week alongside being open for anyone to drop in to ride, ex6rcis8 or play across th8 49 acre site, b. Maln Achlevements 2024125 Our Team is known for being welcoming, supportive and creating an environment that many d@sGribe as like a 'familY. This approach shines through particularly in all tsught sessions, be they on the track or in th8 gym, rasulting in truly inspiring stories, feedback and impacts. During 2023124, the Charity has had.. Over /4 million visits, 6,300+ family visits to the play park (up to two adults and three children under 111, 3,000+ led exercise classes (from 12 to 25 taking p8rt in each class}, 1000+ coached & supported cycling sesslons from beginner to tslent. These are a combination of Cyclopark's own r6gular discipline speclfic sessions plus Ihose of the five clubs based at the Park.. Club Cyclopark IBMX, MTB. Roadlcross). 4T {RoadlCross), TNT BMX, Limitless disability club and Medway Tri. KCC also host Adult Learn 2 Ride sessions, 200+ days of cycling based schools, visits including special schools for children with leamlng difficulties and social, emotional, behavioural and mental health needs, PRUS for permanently excluded pupils and mainstream primary and secondary schools from as far afield as Wandsworth. southwest London. 100+ adaptive cycling sessions with Cycl¢4AII130+ adaptive bikes, c. 50 people taking part in each session), 700+ Mother and Baby l Toddler programme classes {10 to 15 taking part in each class}, 1,000 members across the Ride {cycling), Fitness and Play activities, 125+ bookings & events Includlng three National Series cycling events equating to c, 1 Ok vlsltors to Kent over these weekends with overnight stays and spand delivering over £400.000 economic impact to the local economy from the National Serles BMX alone. Bayond th8S8 quantitativ8 stalistics. we also receiv9 numerous positive pieces of f&edback from across our rang8 of activities such as- Cyclo4AII: "H has a leaming disability, has begn partially sighted sintre birth and has restricted movement due to having a stroke 21 years ago. Once a wg8k she att8nds th& Gyclo4AII sessions. The 8rr8ngements made for H havo been a revelation. I had a quiet cry watching her going around the tr8ck on our first visit and seoing the joy and froodom this was 9rving her. I still get emotional even now just watching the pleasure on her face. Her self- estgem has improved no gnd and her mobility too." Menopausal Weight Tralnlng: "I had been battling breast cancer for a year. Then, when all my fr8atm8nt finish&d, I was diagnosed with Osteopenla. I slgned up for the menopausal weight trainirpg course, whlch helped me to leam about ightS and how to use them property and build my confid6nc9. Tho peopla on the course were amazing too, Once I felt more comfortable, I started doing other Glassps like HIIT. This has h8lped me by Pag6 6
Cyclopark (A company Ilmltsd by guarantee) Trustees. report (contlnued) For the year ended 31 March 2025 Achievements and performanca (contlnued) giving me confidence fo work with the weights on my own at the gym, I feel stmnggr and my last scan show8d my bone densFty hadn¥ got worse which is amazing. l also lova th6 fact that if you need any help, the Instructors are th&re to guidg you which is brilliant." Learn2Ride. ljust wanted to say how bnlliant thg coach was on Saturday for my sorl s l.'t lesson. He gtst him riding a pedal bike in 5 minutes, something w8've been trying for months to dol" Par6nt & Baby classes: "The P8rent & Baby classes havg been amazlng in supporting n7y Postnatal recovery after both of mypregnancies. Thg instmctors ar& iinderstandirlg and halpful, and nothlng is too much to ask. The classes offgr different options dgpendent on your abilty and stage of reGovery, which I found particularty useful after having two c sections. I honestly don't think I would have recovered as well as I havg done,. physically and mentally, if it wasn't for these clssses. A safg and inclusiv8 membership for parents, would highly reGommend to anyone., Underpinning the public facing delivery of activities is a continual review of operations to ensure that processes and procedures are being carried out as efficiently and 8ffectively as possible. This included revlew of historic supplier contracts resulting in fiv8 figure savings. Aligned wlth our enabling goal of Exceptional People, our organisational structure has Eieen revlewed and recruitment mad8 to replace vacal8d and lill new roles. Establishing strong relationships betwe8n a new senior management team and our key stakeholders has been a focus for Q3 and Q4 and will be us8d as a springboard to support our income target through both Charitsble fundraising and commercial growth in 2024125. Financial review a. Going concern After making appropriate enqulries, the trustèes have a r8asonable expectstion that the charltable company has adequate resources to continue in operational exist8nce for the foreseeable future. For this reason, thgy continu8 to adopt the going concern basis in preparlng the financial statements. Further details regarding th& adoption of the going conrn basis can be found In the accounting policies. b. Reseryes policy When considering the level of reseaS to be maintained by the Charity, the Board of Trustaes has taken into account the forecasts of future income, the reliability and sustainability of each source of income and prospects for forecasts of future expenditure, based on planned activity. The Board has assessed that reserves should be maintained at £150,000 to allow for up to four months closuro with no income. Any use of the reseNe for investmant will be subject to a plan to restore the reserve to this level in a short period, ¢. Prfnclpal funding Our principal funders are Kent County Council from whom we receive our core funding through the Operator Agreemenl. d. Financial revlew The results for the year are set oul on page 15 The charity recorded a net deficlt of £26,928 (2024: net surplus of £48,490). As a result of this, total funds amounted to £369,959 (2024.. £396,887). Page 7
Cyclopark (A company limited by guarantee) Trustees. report {continu@d) For the year ended 31 March 2025 stTUCturep governance and management a. Constitution The company is reglstered as a charltable company limited by guarante8 and was s8t up by a M8morandum of Association on 5 September 2011. The company Is constituted under a Memorandum of Assoclatlon dated 5 Sept8mb8r 2011 and is a registered charlty number 1144915. b. Methods of appolntment or electlon of Trustees The manaoement of the company is the responsibility of the Trusle8s who are elected and co.opted under the terms of the Article5 of Association. Directors may be appointed by exlstlng Directors or by members by ordinary resolution. C. Pollcles adopted for the induclion and tralnlng of Trustees Exlstlng Dlrectors of the charity ensure thal new Directors becom8 familiar with their responsibilities and duties. d. Pay policy for k6y managomont personnel The Board of Trnjstees aim to pay senior staff e fair salary that Is competitive within the Gharily sector and proportionat8 to the complexity of each role. The Trustees ar6 responsible. In Ilne with our charitable objectives based on the following principles set out below.. Meet all national pay standards and provide all pald Staff wlth a Ilvlng wage. Pay our staff an appropriate salary to altracl 8nd retain p8ople wilh the leadership, experience. knowledge and skills required. e. Related party relationshlps The Charity cooperat8s and liais9S With a number of other advlsory services, local charities and statutory services. Where one of the Trusle8s holds the position of Trustee or Director within another charity, they may also be involved in discussions regarding that other charity but not in the ullimate decision Making process. Page 8
Cyclopark (A company limlted by guarantee) Trustees, roport (continued) For the year ended 31 March 2025 structure, gov8rnanc8 and management (contlnuod) f. Rlsk management The Trustees have assessed the major risks to which th8 charitable company Is exposed, In partlcular those related to the operations and financ8s and are satisfled that systems and procedures are in place to mitigate our exposure to the major risks. The Trustees recognlse Ihat any major rlsks to which the charity is exposed need lo be revlewed and systems Put In place to mitigate those risks. To Ihat end th8 charitable company is continually monitoring and managing Its risk, reviewing risk and ensuring action plans 8re In place to mitigate its k6y rlsk ar8as. The principal rlsks and uncertainties idantified by tha charity are as follows., Risk Identified Health & Safety IH&SI: risk of serious injury or death of vlsitor to the park. Actlons taken to mltlgate risk Staff training, safe systems of work. Monltorfng of near misse5. All staff hold flrst aid qualification5, and first aid training is carrled out on a routine basis. The safeguarding policy has been updated and routinely reviewed to ensure industry com liance. Appointment of In-house accountant, additional financlal experience added to the Board, mont.hly accounts senl to Audit & Rlsk Sub- committee. External Audltor retalned, Actlve marketing and promotion procedures. Work with local community groups to maximise utili5ation. Monitoring of footfall increase and income for each area. Use of this informatlon ror lannin meetin Ensure proactivity in research to ensure events are on trend and meetlng the needs of the V751tors. KPI'S set for events and monltorlng and feedback included. To be actlve in canvassing for support and offer suitable value communit activities. Cyclopark General Data Protection Regulation {GDPRI policy put in place to ensure compliance to UK GDPR r ulation. Business plan5 for Investment opportunltles outside of operational expendlture and maintenance and prepared and presented to the Board for a roval. Resular meetlngs held to ensure the ommunicatlon of the Importance of a safety based culture. Appolntment of new Chlef Executive Officer to ensure the f unding and Stakeholder engagement to deliver strateslc objectives. Safeguarding wellbeing of wsitor5 to the park. Financial: risk of poor financial planning and projection, and lack of robust reporting and credlt control Entrie5 to Cyclopark do not increase. No growth in event5 Reduction in external fundlng Breach of customer data I storage / securrity Inablllty to grow I develop due to lack of flnancial resources Safety of Staff and equipment against criminal intent Loss of key employees Page 9
Cyclopark (A company limited by guarantee) Trustees. report (continued) For Ihe year ended 31 March 2025 Statemont of Trustees, rasponslbllltles The Trusteas (who are also the directors of the Charity for the purposes of company law} are responsible for preparing the Trustaes, raport and the financial statements in accordance with applicable law and United Kingdom Accounllng Standards (United Kingdom G8n8rallyAccepted Accounting Practica). Company law r8quires tha Tmslees to prepare financial stalements for each financial Under company law, the Trustees musl nol approve the financial stat8m8nts unless thay are satisfied that they glve a true and falr vl@w of the state of affairs of the Charity and of its Incoming resource5 and application of resources, including its income and expendilure, for that period. In preparing these financlal statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently. observe the methods and principles of th@ Charities SORP {FRS 102). make judgments and accounting estlmates that are reasonable and prudent,. state whether applicable UK Accounting Standards IFRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements. prgpare the financlal statements on the oolng concem basls unless It15 Inappropriate to presume that th& Charity will continue in busin8SS. The Trust8es ar@ responsible for keeplng adequale accounting records that are sufflclent to show and explain the Charity's transaclions and disc108e with reasonabl6 accuracy al any time the financial position of the Charity and enable them to ensure that the financial stalements comply with the Comp8ni8s Act 2006. They are also responsibl8 for safeguarding the assets of the Charify and hence for taklng reasonable steps for the prevention and detection of fraud and other irregularities. DIsGlosure of informatlon to audltors Each of the persons who are Trustees at the time when this Trust6es' report is approved has confirmed that.. so far as that Trustee is aware, th6r6 is no relevant audit informalion of which the charitls auditors arg unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee In order lo be awar8 of any relevant audit information and to &stablish that the charity's auditors are aware of that Information, Auditors The auditors, Kreslon Reeves LLP. have indicated their willingness to continue in office. Th& designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees, Approved by ordèr of thg mambers of the board of Trustees on QLk(q(u- and slgned on tFielr behalf by.. K Lloyd Chair of Trusto8s Page 10
Cyclopark {A company Ilmlted by guarantee) Ind8pendenl auditors, report to the Members of Cyclopark Oplnlon We have audiled the financial statements of Cyclopark (the 'charitable companl) for the year ended 31 March 2025 which comprise trie Ststement of financial aclivilies, the Balance sheet, the Statement of cash flows and the relaled notes, including a summary of significant accounting policles. The financial r8POrting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Klngdom Generally Accepted Accounting Practice), In our opinion the financial statements.. glve a true and fair view of the slate of th8 charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its incomg and expenditure for the year then have been properly pr8par8d In accordance with Unlted Kingdom Generally Accepted Accounting Practice., and have been prepared in 8ccordanc6 with the r8quir8m8nls of the Charities Act 2011. Basis for oplnlon We conduct8d our audit in accordance with International Standards on Audltlng {UKI IISAS (UK)) and appllcable law. Our responsibililies under those standards are further described In the Auditors, responsibilities for the audit of the financial statements s8ction of our report. We are independent of th8 charitable company in accordance with the ethical r8quirem6nts that are relevant to our audit of the financial statements in the United Kingdom, including the Flnancial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that th8 audit evidence w8 hav6 obtain8d is sufficient and appropriate to provide 8 basis for our opinion. Concluslons relating to golng concern In auditing the financial statements. we have concluded that the Trustees, use of the golng concem basis of accounllng in the preparation of the flnancial statements Is appropriale. Based on the work we have performed, we have not Identlfled any material uncertaintios relating to events or condrtions that, Individually or collectively, may casl signrficant doubt on the charitable companvs ability to continu& as a going Concern for a period of at least bM8lv8 months from when the financial ststements are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees With respacl to going concern are described in the relevant sections of this report. Page11
Cyclopark (A company Ilmlted by guarant¢e Independent auditors. report to the Members of Cyclopark (contlnued) other Information The other information comprises the Information included in the Annual report other than the financial stalem8nts and our Auditors, report thereon. The Trustees are responsible for the other infonnation contained within the Annual report. Our opinion on the financial statements does not cover the oth8r information and, 8XC8Pt to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion ther8on. Our responsibility Is to read the olher infomation and, in doing so, Consider whether the other information is malarially inconsistent with the flnanclal statements or our knowlGdge oblained in the course of the audit, or otherwise appears to be materially misslated. If we identify such mal@rial inconsistencies or apparent material mlsstatements, we are required lo determine whether this gives rlse to a material misstatement in the financial statem8nts themselves. If, based on the work we have performed, we conclude that there Is a material misstatement of this oth8r information, w8 are r8quir8d to report that fact. We hav8 nothing to report in this regard. Matlers on whlch we are requlred to report by exception We have nothing to report in respecl of the following m8tters where the Charities (Accounts and R8POrts} Regulations 2008 requires us to report to you if. in our opinion.. the Inforrnation given in the Trustees, report is inconsistent in any mat8rial respect Wtth lh& financial statements., or sufficient accounting records have not been kept: or th8 financial statèments are not in agreement with the accounting r8cords and r8turns' or w& have not receiveLI all the Information and explanations we require for our audit. Responsibilities of trustees As explained more fvlly in the Trust8&s' responsibilities stat9ment. the Trustees (who are also the directors of the charitable company for the purposes of company law} ar8 r@sponsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees det8rmine is necessary to enable the preparation of financlal slatements that are free from material misstatement, whether du8 to fr8ud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable companls ability lo continu8 as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidale the charitable company or to cease operations, or have no realistic alternative but to do so. Page 12
Cyclopark {A Company Ilmlted by guarantee) Independent auditors, raport to the Members of Cyclopark (continued) Audltors, responslbilltl&s ft)r the audlt of the financial statements We have been appointed as auditor under section 144 of the Charit18s Acl 2011 and report In accordance with the Act and relevant regulations made or having eff8Ct thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, wh&thor due to fraud or error, and to issue an Auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantoe that an audil conducted in accordance with ISAS (UK} will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the @conomlc decisions of us&rs taken on the basis of these financlal statamants. Irregularllles. including fraud, are Instances of non-compllance with laws and regulatlons. We design procedures in line wlth our responsibilities, outlined abov8, to detect material misstatements In respect of itT8gularilies. including fraud. Th8 8Xtent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Capability of the audrf in d8teGting irregujan'ties, including fraud Based on our understanding of the Charity and the sector as a whole, and through discussion with the Trustees and other managament (as required by audiling standards), we identified that the principal risks Df non- complianc8 with laws and regulations related to safeguardlng, health and saf8ty, 8nti-bribery and employment law. We consldered the extent to which non-complianc8 might hav8 a material effect on the flnancl81 statements. We also considered thos& laws and regulations that have a direct Impact on the preparatlon of th8 financial statemenls such as lh6 Charities SORP IFRS 1021 Second Edltion {relgas8d October 2019). the Companies Act 2006 and other relevant charity legislation. We communicaled identifigd laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Trustees. and managem8nt's incentives and opportuniti8s for fraudulenl manipulation of the financial stat@ments (includin9 Ihe risk of ov&rride of controls) and determined that the principal risks relaled posting inappropriate journal entries to increase revenue or reduce expenditure, management bias in accounting estimates and judgemental areas of the financial. Audit procedures performed by thg engagement team included: Discussions with management and assessment of known or suspected instsnces of non-compliance with laws and regulation8 (including h&afth and safely) and fraud, Ass8ssment of identified fraud risk factors- and Revièw of cash and credit card expendlture to conflrm no evidence of personal beneflt. and Challenging assumptions and ludgemenls made by management in its significant accounling estimates,, and Performing analytical procedures to identlfy any unusual or unexpected r8lalionships, including related party transactions, that may Indicate risks of material misstatemenl due to fraud. and Confirmation of related parties with management, and review of transaclions throughout the period to identify any previously undisclosed transactions with related parties outside the nomial course of business., and Reading minutes of meelings of those charged with governance, reviewing internal audit reports and reviewing correspondence with relevant tax and regulatory 8uthorities,' and Reviow of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transaclicns. and Identlfying and tasting journal entries, in particular any manual entries made at the year and for financlal ststement preparation. This was carried out with the aid of our dats analytics software Mindbridge. Page 13
Cyclopark IA company Ilmlted by guaranlee Independent audltors, report to the Members of Cyclopark Icontinuod) As part of an audit in accordanc& with ISAS (UK), w8 8xercis9 professional judgment and malntaln professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financi81 statements. whether due lo fraud or error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. Th8 risk of not detectlng a malarial misstatement resulting from fraud is higher than for one resultlng from error, as fraud may Involve collusion. forgery, inlenlional omissions, misrepresentations, or the override of internal control. Obtain an understanding of intemal control rèlevant to the audit in ordgr to design audlt procedures that ar8 appropriate in the circumstances, but not for the purpose of expressing an oplnion of the 8ff8Ctiveness of the charltable companls internal conlrol. Evaluate the appropriat6ness of accounting policies used and the reasonableness of accounting estlmates and related disdosures made by th8 Truste&s. Conclude on the appropriateness of the Trustees. use of the going Goncern basls of accounting and, based on the audit evldence oblained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitsble companvs ability to continu@ as a going concern, If we conclud8 that a rnatarial uncertalnty exists, we are required to draw attentlon in our Auditors, report to the related disclosures in the financial statements or, if such disclosures are inadequat8, to modify our opinion. Our conclusions are based on the audlt evidence obtained up to the date of our Auditors, report. However, future events or condltlons may cause the charitabl8 company to cease to continu8 as a going concern. Evaluat8 th8 overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial stat8ments represer)t the underlying transactions and events In a manner that achieves fair pr&santation. We communicate with those charged with governance regarding. among othèr mattars. the planned scopa and timing of the audit and significant audlt flndings, including any slgnlficant deficlencles In Internal control that w& identify during our audit. Use of our report This report is made solely to the charitable companls trustees, as a body. in accordance with Part 4 of the Charilies (Accounts and Reports) Regulalions 2008. Our audit work has been undertaken so Ihat we might stal to the charitable comp8nYs Irustees those matters we are required to stale to them in an Auditors, report and for no other purpose. To the fullest extent permilted by law, we do not accept or assume responsibility to anyone other than the charitable company and 115 members, as a body, for Dur audit work, for this report, or for tha opinions we have formed. * cfckp Samantha Rouse FCCA DChA (Senior statutory audltory Chartered Accountants statutory Auditor Chatham Marifjme Date. 25 September 2025 Kreston Reeve8 LLP are eligible lo act as auditors in terms of section 1212 of the Companies Act 2006. Pag8 14
Cyclopark (A company limited by guarantee) Statement of financial acllvltles {Incorporatlng Income and expenditure account) For the year ended 31 March 2025 Restricted Unrestrictod funds funds 2025 2025 Total funds 2025 Totsl funds 2024 Note Income from: Donations and legacles Charitable activities Other trading activitias Investments 34.089 28,525 981,210 248,572 28,760 62,614 981,210 248,572 28,760 105,801 841,488 203,176 24,662 Total Income 34,089 1,287,067 1,321,156 1,175,127 Expenditure on: Raising funds Charitabl8 activitigs 179,290 1,136,294 179,290 1,168,794 139,210 987,427 32,500 Total expendlture 32,500 1.315,584 1,348,084 1,126.637 Net movement In funds 1,589 (28.517) (26,928) 48,490 Reconciliation of funds: Total funds brought forward Net movgm@nt in funds 396,887 (28.517) 396,887 (26,928} 348,397 48,490 1,589 Total funds carried forward 1,589 368,370 369,959 396,887 The Statsment of financial actlvities includes all gains and losses recognised in the year. The notes on pages 19 to 34 form part of these financial statements. Pag8 15
Cyclopark (A company limited by guarantee) Reglstered number. 07762463 Balance sheet As at 31 March 2025 2025 2D24 Note Flxed assets Tangible assets 14 184,605 231,082 184,605 231,082 Current assets Stocks Debtors Cash at bank and In hand 15 8,161 28,926 321,760 3.926 85,844 316.316 358,847 386.086 Creditors: amounts falling due within ono year 17 (170,730) (207,0861 Net current assets 188.117 179,000 Total assets less current Ilabllltles 372,722 410,082 Creditors.. amounts falling due after more than one year 18 (2,763) (13,195) Net assets excludlng pension asset 369,959 396,887 Total net assets 369,959 396,887 Charlty funds Restricted funds Unrestricted funds 19 19 1,589 368,370 396,887 Total funds 369,959 398,887 The entity was entitled to exemption from audil under sectlon 477 of the Companies Act 2006. The members have not required the entity to obtsin an audit for the year in question in accordance with section 476 ofthg Companies Act 2006. However, an audit is required in accordance with section 144 of th8 Charities Act 2011. The Trusteas acknowledga their responslbllltles for complwng with the requirements of the Act with resp8ct to accounling records and preparation of financial statements. The financial statements have been prepared In accordance with the provisions applicable to enlities subjact to the small companies regim&. The financial statements were approved and authorised for issue by the Trustees and sign8d on their behalf by: Page 16
Cyclopark (A company limited by guarant88) Registered number: 07762463 Balance sheet (continued) As at 31 March 2025 K Lloyd (Chair of Trustees) Date., The notes on pages 19 to 34 form part of these financial statements. Page 17
Cyclopark (A company Ilmlted by guarantee) Statement of cash flows For the year ended 31 March 2025 2025 2024 Cash flows from operatlng actlvitles Net cash generated by operating activities 21 38,994 100,231 Cash flows from Investlng activities Dividends, interests and rents from Investments Purchase of tangible fixed assets 28,760 24,662 {52,280) {101,748) Net cash used in investing actlvltles {23,520) (77,086) Cash flows from financing aclivitl8S Repayments of borrowing {10,030) {10,069} Net cash used in financing activltles (10,030) (10,069) Change In cash and cash equlvalents in the year Cash and cash equivalent8 at the beginning of the year 5,444 13,076 316,316 303,240 Cash and cash equivalents at the end of the year 321,760 316,316 The notes on pages 19 to 34 form parl of these financial statements Page 18
Cyclopark (A Company Ilmlted by guarantse) Notes to the financlal statements For Ihe year end8d 31 March 2025 General Informatlon Cyclopark is a company liinited by guarantee (reglstered number 07762463) which is incorporated and domiciled in England. It Is also registered as a charity wih the Charity Commission {registered number 1144915). The adress of the registered office is Watling Street, Gravesend, Kent, DA117NP, Acoountlng policios 2.1 Basis of preparation of flnanclal statements The financial statements have been prepared in accordance with tho Charities SORP IFRS 1021 Accounting and Reporiing by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporllng Standard applicable in the UK and R8public of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard appllcable In the UK and Republlc of Ireland IFRS 102) and the Compani8s Act 2006. Cyclopark m88ts the definition of a public beneflt entlty under FRS 102. Assgts and Ilabilities are initially recogni5ed at historical cost or transactlon value unlass otherwis8 St8ted in the relevant accounting policy. 2.2 Incom6 All income is recognised once th8 Charity has entitlement to the income, it is probable that the incomg will be received and the amount of income receivable can be measured reliably. Grants are includ&d in the Statgment of financial activities on a receivable basis. The balance of incc>me receiv8d for 8p8cific purposes but nol expended durlng the perlod is shown in th8 relevant funds on the Balance sheet. Where income is recelved in advance of 8ntitlem8nt of receipt, its recognition Is deferred and included in cr8ditors as deferr9d income. Where entitlement occurs before income is recgiv.ed, th8 incom6 is accnjed. Other income is recognised In the period in which il is receivable and to the extent the goods have been providad or on completion of the servic8. 2.3 Expenditure Expenditure is recognised onc8 there is a legal or constructive obligation to transfer economic benefit to a third party, tt is probable that 8 transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is clasÈifi@d by activity. The costs of each activity ara made up of the total of direct costs and shared costs, Including support costs involved in undertaking each activity. Direct costs atlrlbutable to a single actlvity are allocated directly to that activity, Shared costs which contributo lo more than one activity and support costs which are not attributable to a single aclivity are apportioned between those activities on a basls consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depre¢ialion charges 8lloc8lsd on the portion of the asset's use. Expenditure on charitable activilies is incurred on directly undertaking the 8clivitles which further the Charitys objectives, as well as any associated support costs. Grants payable are charged in the year when the off6r is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grant5 offered subject to conditions which have nol been m&t at the year end are noted as a commltment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. Page 19
Cyclopark {A company Ilmlted by guarantee) Notes to the flnanclal statements For the year ended 31 March 2025 AGcountlng poll¢les (continued) 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity,. this is normally upon notification of the interest pald or payable by the institution with whom the funds are deposited. 2.5 Taxation The Charily is considered to pass the tests set out in Paragraph 1 Sch@dul8 6 of th8 Finance Act 2010 and th8r@for8 It m8ets tha definition of a charltable compeny for UK corporatlon tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capltal galns received within categories covered by Ch8Pter 3 Part 11 of the Corporalion Tax Act 2010 or Se 256 of th8 Taxation of Chargeable Gains Act 1992, to the extent that such Incom8 or gains are applied exclusively to charitab18 purposes. 2.6 Tanglble flxed assets and depreciation Tangible fixed assets costing £500 or more are C8Pltalised and recognised whon future economic benefits are probable and the cost or value of the assel can be measured reliably. Tangible fixed assets are initially r8cognised at txjst. After recognition. undar the cost model, tsnglble flxed assets are measured at cost less accumulaled depreciation and any accumulat8d impairment losses. All costs incurr8d to bring a tangible flxed asset Into its intended worklng condltlon should be included in the m8asur8m8nl of cosl. Depreciation is charged so as to allocate the cost of tanglble fixed assets less their residual value Over th8ir eslimated useful lives. using th8 Straight-lina method. Deprecialion is provided on the following basis: Fixtures & fittings Equipment Improvaments to property 25% straight line 25 /0 Straight line 25Vo Straight line 2.7 Slocks stocks are valued at the Iow8r of cost and net reallsable valu8 after making due allowance for obsolete and slow-moving slocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.8 Deblors Trade and other dobtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 2.9 Cash at bank and In hand Cash at bank and in hand includes cash and short-tgrm highly liquid investm8nts with a short maturily of three months or less from the date of acquislllon or opening of the deposit or similar account. Page 20
Cyclopark (A company limited by guarantee) Notes to thè financial statem8nts For the year ended 31 March 2025 Accounting policies (continued) 2.10 Liabillties and provlslons Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past 8V8nl, it is probable that a transfer of economic benefit will be required in seltlement, and the amount of the settlement can be estimatod roliably. Liabllities are recognised at the amount that the Charity anlicipates it wlll pay to settle the debt or the arnount it has received as advanced payments for the goods or servlces it must provide. Provislons are measured at the best estimale of the amounls required to settle the obligation. Where the effect of the tlme value of money is material, the provision is based on the present value of those amounts, discounted at th@ pr8-tax discount rat8 that r8fl8Cts th8 risks specific to the liabllty. The unwinding of the discount is recognis8d in the Slatem8nt of financial activities as a finance cost. 2.11 Financial instruments The Charity Only has financial assets and financial liabilities of a kind that qualify as basic financial instrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured al their Settlement value wtth the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Operating1gas&s Rentals paid under operating leases are charged to the Statement of financlal actlvlties on a straight- ling basis over the lease term. 2.13 Penslons Th8 charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate, 2.14 Fund accounling General funds are unrestricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which havg not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictlons imposed by donors or which have been raised by the Char5ty for particular purposes. The costs of raising and administerfng such funds are charged against the specific fund, The aim and use of each reslrtcted fund is set out in the notes to the financial statements, Investmenl income, gains and losses are allocated to the appropriate fund. Income from donations and 18gaci8s Restrlcted Unrestricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Page 21
Cyclopark (A company Ilmlted by guarantee) Notes to the flnanclal statements For the year ended 31 March 2025 Income from donations and legacles (contlnued) Restrlcted Unrestrlcted funds funds 2025 2025 Total funds 2025 Total funds 2024 Donations 7,320 21,205 7,320 55,294 4,916 100,885 Grants 34,089 34,089 28,525 62,614 105,801 Total 2024 62,500 43,301 105,801 Income from charitable activities Unrestricted funds 2025 Total funds 2025 Total funds 2024 Recreational actirivies - Op&ration of cycle park 981,210 981,210 841,488 Total 2024 841,488 841,488 Income from other tradlng actlvlties Income from non charitab16 trading actlvltles Unrestricted funds 2025 Total funds 2025 Total funds 2024 Cafe income 248,572 248,572 203,176 Total 2024 203,176 203,176 Inv8stment income Unrestricted funds 2025 Total funds 2025 Total funds 2D24 Page 22
Cyclopark (A company limlted by guarantee) Notes to the flnanclal statements For tha year ended 31 March 2025 Investment income (continued) Unrestricted funds 2025 Total funds 2025 Total funds 2024 Rentsl income Bank interest receiv8d 22,783 5,977 22,783 5,977 22,504 2,158 28,760 28.760 24.662 Total 2024 24,662 24,662 Expenditure on ralslng funds other trading oxpenses Unrestricted funds 2025 Total funds 2025 Total funds 2024 Purchases 98,529 80,761 98,529 80,761 69.786 69,424 Trading account staff costs 179.290 179,290 139,210 Tolal 2024 139,210 139,210 Page 23
Cyclopark (A company limited by guarantee) Notes to th8 financial statements For the year ended 31 March 2025 Analysls of grants Grants to Individuals 2025 Total funds 2025 Total funds 2Q24 Awards and Grants 1.708 1,708 1,126 Tctal 2024 1.126 1,126 Analysis of expenditure on charitable activities Summary by fund type Restrlcled Unrestrlcted funds funds 2025 2025 Total 2025 Total 2024 R8creational aclirivies - Operation of cycle park Awards and Grants 32.500 1,134.586 1,708 1,167.086 1.708 986,301 1,126 32.500 1,136,294 1,168.794 987,427 Totsl 2024 987,427 987,427 10. Analysls of expendlture by actlvltles Activities undertaken dir&ctly 2025 Grant funding of activiti88 2025 Support costs 2025 Total funds 2025 Total funds 2024 Recreational activities Operation of cycle park Awards and Grants 918,746 248,340 1,167,086 1,708 986,301 1,126 1,708 918,746 1,708 248,340 1,168,794 987,427 Totsl 2024 783,363 1,126 202,938 987,427 Page 24
Cyclopark {A company Ilmlted by guarant8a) Notes to the flnancial statèments For the year ended 31 March 2025 10. Analysls of expenditure by actlvltles (contlnuod) Analysis of dir8Ct costs Total funds 2025 Total fvnds 2Q24 Activities 2025 Staff costs Depreciation Insurance Premises costs Consumables Irrecoverable VAT Coachlng costs Equipment costs Other staff costs Bad debts write off Processing and bank charges 371,710 98,757 26,562 222,176 10.936 29.431 85,823 46,622 7,934 60 18,735 371.710 98,757 26,562 222,176 10,936 29,431 85,823 46,622 7,934 60 255,196 95,909 24,527 198,053 8,496 33,084 65,082 59,834 14,165 333 18,735 28,684 918,746 918,746 783,363 Total 2024 783,363 783,363 Analysis of support costs Total funds 2025 Total funds 2024 Activities 2025 Staff costs Marketing Securlty Professional fees Auditors, remunaration Accounting and 8dmlnistration 209,947 8,927 196 7,133 12,900 9,237 209,947 8,927 196 7,133 12,900 9,237 167,933 6,945 208 7,777 12,600 7,475 248,340 248,340 202,938 Total 2024 202,938 202,938 Pag8 25
Cyclopark (A company limited by guarant881 Notes to tho financial statgments For tho year ended 31 March 2025 11. Audltors, r8mun8rallon 2025 2024 Fees payable to the Charivs auditor for the audit of the Charity's 8nnual accounts 12,900 12,600 Fees payable to the Charivs auditor in wspact of: All non-audit s8rvic6s not included 8bove 1,500 2,200 12. Staff costs 2025 2024 Wages and salaries Social security costs Contribution to defined contribution pension schem8S 616,626 37,339 8,453 464,384 21,983 6,186 662,418 492,553 The average number of persons ernployed by the Charity during the year was as follows.. 2025 2024 Management Operalions Fieception 10 32 10 32 52 46 The average headcount 6xpr6ssod as full-time equival8nts was,, 2025 No. 2024 Management Operations Reception 12 13 22 20 The number of employees whose employee benefits (excluding employer pension costs> exeded £60,000 was,. 2025 2024 In the band £80,001- £90,000 Page 26
Cyclopark IA company limited by guarant88} Notes to the financial statements For the yéar ended 31 March 2025 13. Trustees. remun8ralion and expenses During the year, no Trustees recgived any remuneratlon or olher bgn8fils (2024- £NIL>. During th8 year ended 31 March 2025, no Trustee expense5 have been incurred (2024- £NIL). 14. Tanglble flxed assets Improve- ments to property Equlpment Assets Flxtures and under fittings construction Total Cost or valuatlon At 1 April 2024 Additions Disposals 78,203 265,239 5,227 (8,984) 211,833 41,390 (76,902) 555,275 52.280 (85,886) 5,663 At 31 March 2025 78,203 261,482 176,321 5,663 521,669 Depre¢latlon At 1 April 2024 Charge for Ihe year On disposals 68,428 9,775 132,116 50,073 (8,984) 123,649 38,909 (76,902) 324,193 98,757 (85,886) At 31 March 2025 78,203 173,205 85,656 337,064 Net hook value At 31 March 2025 88,277 90,665 5,663 184,605 At 31 March 2024 9,775 133.123 88.184 231,082 15. stocks 2025 2024 Finished goods and goods for resale 8.161 3,926 Page 27
Cyclopark (A company Ilmlted by guarantee) Notes to the flnancial statements For the year ended 31 March 2025 18. Debtors 2025 2024 Due wlthln one year Trade deblors Other debtors Prepayments and accrued income 14,137 3,320 11,469 46,867 2,755 16,222 28,926 65,844 Page 28
Cyclopark (A company Ilmlted by guarantea) Notes to the financlal statements For the year ended 31 March 2025 17. Cr8dltors: Amounts falllng due wlthin one year 2025 2024 Bank loans Trade creditors other taxation and social security Pension fund loan payable Accruals and deferred income 10,323 88,646 12,317 1,762 57,682 10,070 59,076 30,868 1,718 105.354 170,730 207,086 18. Credltors: Amounts falllng due after mor8 than on8 year 2025 2024 other credltors 2.763 13,195 Page 29
Cyclopark {A company limited by guarantee) Notes to the financlal statements For tho year 8nd8d 31 March 2025 19. Slatement of funds statement of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Income Expendlture Unrestricted funds General fund 396,887 1,287,067 {1,315,584) 368,370 Reslrlcted funds Cotyer Ferguson Age UK- Chair Fit Kent Community Foundation Grav@sham BC - UK Shared Prosperity Fund 20,000 5,000 7,500 1,589 {20,000) 15,000) 17,500) 1,589 34,089 (32,500) 1,589 Total of funds 396,887 1,321,156 11,348,084) 369,959 Colyer Ferguson Colyer Ferguson Charitable Trust Funds for the pilot d81iv8ry of Movement Not Meds {medication) providing bespok& activity programmes to those living with long term medical conditions and struggling lo make ends meet. Age UKIKCC Innovation Fund - Funds to deliver Chair Fit & Chat classes to support those living with dementia 8nd their carers to disGover the power of group excerslse and socialisation. Kent Community FoundationlPartig8r Trust - Funds to deliver Chair Fit and Chat classes to support those aged 65+ to discover the power of groLAP exercise and socialisation. Gravesham BCIUK Shared Prosperity Fund - Funds to deliver a programme to empower individuals suffering from long-temi pain to utilise axercise as a method of pain management. Page 30
Cyclopark (A Company Ilmlted by guarantse) Notes to the financlal statements For Ihe year end8d 31 March 2025 19. Statement of funds (contlnued) Statement of funds - prlor year Balance at 31 March 2024 Balance al 1 April 2023 Transfers inlout Income Expenditure Unrestricled funds Deslgnated funds Sinking Designated funds S0,OOD (50.0001 General funds General fund 288,397 1,112,627 {1,126,637} 122.500 396,887 Tolal Unrestrl¢ted funds 338.397 1,112,627 (1,126,637) 72,500 396,887 Restricted funds Kent Community Fund - Skllls Area Grant Highways - Cycloland Extenslon 10,000 (10,000) 62,500 {62,500) 10.000 62.500 (72,500) Total of funds 348,397 1,175,127 (1.126,6371 396,887 Page31
Cy¢lopark (A company limited b'y guarant68) Notes to the financial statements For tha year énded 31 March 2025 20. Summary of funds Summary offunds - current year Balance at 31 March 2025 Balance at 1 Aprll 2024 Income Expondlture General funds R@stricted funds 396,887 1,287.067 (1,315,584) 34.089 (32,500) 368,370 1,589 396,887 1,321,156 (1,348,084 369,959 Summary offunds . prlor year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Designal8d funds General funds Restricted knnds 50,000 288.397 10,000 (50,000) 122,500 {72,500) 1,112,627 (1.126,637) 62,500 396,887 348,397 1.175,127 (1,126,637) 396,887 21. Analysls of net assets between funds AnaIysis of net assets between funds - current year Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year Creditors due in mora than one year Diff6rance 184,605 184.605 358,847 358,847 (170,730) (170,730) (2,763) (2,763) {1.589) 1,589 Total 1,589 368,370 369,959 Page 32
Cyclopark (A company limited by guarante0} Notes to the financial statements For the year ended 31 March 2025 21. Analysis of net assets bètween funds (Contlnued) Analysls of net assets between funds - prlor year Unreslricted funds 2024 Total funds 2024 Tangible fixed assets Currenl assets Creditors due within one year Creditors due in more than one year 231,082 231,082 386,086 386,086 (207.086) (2Q7,086) 113,1951 {13,195) 396,887 396,887 Total 22. Reconciliatlon of net movement In funds to net cash flow from operating activitias 2025 2024 Net incomelexpenditure for the year (as per Statemenl of Financial Activitl8sI {26.928) 48.490 Adjustments for: Depreciation charges Divldends. intgrests and rents frorn investments Increase in stocks Decreasel{increase} in debtors Increaselldecreasel in creditors 98,757 (28,760} (4,235) 36,918 {36,758) 95,910 124,662} {229) (34,128) 14,850 Net cash provided by operating activities 38.994 100,231 23. Analysis of cash and cash oqulvalents 2025 2024 Cash In hand 321,760 316,316 Total cash and cash equivalents 321.760 316,316 Page 33
Cyclopark (A company Ilmited by guarantee) Notes to the financlal statements For the y8ar ended 31 March 2025 24. Analysls of changes In nel debt At 1 Aprll 2024 Cash flows At 31 March 2025 Cash at b8nk and in hand Debt due within 1 year 316,316 {11.788> 321,760 (12,085) {297) 304,528 5,147 309,67S 25. Penslon commitments The chartty operatas a defined contributions perision scheme. The assets of the schem8 ar8 held separalely from those of charity In an independently administered fund. The penslon cost charg8 represents contrlbutions payable by th8 charlty to the fund and amounted to £8.453 (2024.. £6,186}. 26. Operallng lease commitments At 31 March 2025 the Charlty had commitments to make future minimum lease payrrents under non- cancellable operating leases as follows,. 2024 Restated 2025 Not laler than 1 year Lal8r than 1 year and not later than 5 years Later than 5 y8ars 34,300 137,200 68,600 30,600 122,400 91,800 240,100 244,800 27. Related party transactlons There have been no related party transactions during the financial year (2024.. £523). As at 31 March 2025, there are no balances oulstanding with any related parties {2024: £Nil). Page 34